Summary of Blue Owl Capital’s Acquisition of Atalaya Capital Management
- Acquiring Company:
- Name: Blue Owl Capital.
- Location: New York.
- Assets Under Management (AUM): $174 billion.
- Acquisition Details:
- Target Company: Atalaya Capital Management.
- Acquisition Price: $450 million.
- Payment Breakdown: $350 million in Blue Owl equity, $100 million in cash.
- Potential Earnout: Up to $350 million in equity, contingent on future revenue targets.
- Atalaya Capital Management:
- Founded: 2006.
- Founder and Chief Investment Officer: Ivan Zinn.
- AUM (as of June 2024): Over $10 billion.
- Investment Focus: Credit investments in consumer and commercial finance, corporate, and real estate assets.
- Capital Invested: Over $17 billion since inception.
- Employees: Approximately 115, including over 50 investment professionals.
- Post-Acquisition Plans:
- Timeline: Expected to close in H2 2024, subject to customary conditions.
- Team Integration: Atalaya’s team will join Blue Owl and continue managing existing Atalaya funds.
- Leadership: Ivan Zinn to become head of alternative credit at Blue Owl, reporting to Craig Packer, Blue Owl’s head of credit and co-president.
- Statements:
- Blue Owl’s co-CEOs, Doug Ostrover and Marc Lipschultz: Highlighted the expansion of Blue Owl’s alternative credit offerings and the enhancement of financing solutions for stakeholders through the acquisition of Atalaya.
